Do you trade a lot? If you do, you will at one point be left with several scrap sums of different coins in your exchange wallets, that are too small to withdraw and too small to trade. But the sum of them could still be worth several full dollars. Even if you don’t trade you may find yourself in possession of such a collection from staking rewards or airdrops. As we all know, this is crypto, and what is now worth 2 USD, may be worth 50 USD a couple of months from now.
So, better not to neglect these balances! But handling them like your other assets would be too much effort. There’s no point to hold 0.10 USD each of several dozen different coins.
A feature many of us have come to love, therefore, is the dust feature on Binance. Dusting can be performed once every 6 hours and converts small holdings of different coins, to Binance’s native token BNB. On Binance, the feature is prominently placed on the account overview page. I believe, they also formed the term dust and dusting in this context.
Many times, I have heard people request a similar feature on KuCoin and while I am sure that at first it did not exist, I recently stumbled on it by mere accident. It is a bit tricky to find and therefore I will show you how to convert dust to KuCoin’s native token KCS with 0.5 USD worth of AMPL that I earned by tipping/blogging on Publish0x.
You can see the AMPL sitting in my ‘main account’. What you do not see, is a dust button.
This is because dusting on KuCoin is considered trading. And for trading, funds need to be transferred to the ‘trading account’. Let’s do that. Click ‘Transfer’ and transfer all the AMPL from ‘main account’ to ‘trading account’.
Switch to the trading account view and all of a sudden, you will notice a ‘Convert to KCS’ link.
There is a certain threshold value that even dust needs to have before it can be converted, but I think that lies around 0.01 USD, so nothing to really be worried about. Click the link and we can convert the AMPL to KCS.
You can now transfer the KCS back to your main account to stack with your main bag.
Disclaimer: No financial advice included in this article. Just sharing my personal experience. Do your own research!
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Images courtesy of Unsplash.com or taken myself.
This is a re-published post from my account on the HIVE blockchain.